Over 39 Lakh Jobs Created In Seven Months Till March: EPFO Data
India created nearly 40 lakh new jobs during the seven month period ending March 2018, according to the retirement fund body's latest payroll data.
As many as 6.13 lakh new jobs were created in the month of March this year, higher than 5.89 lakh payrolls in February, data released by the Employment Provident Fund Organisation showed.
Half of the payrolls were created in the expert service segment across all age groups. Electric, mechanical or general engineering products, building and construction industry, trading and commercial industry and textiles were some of the few segments where job creation was notable.
The data also indicates that over half of the jobs created in organised sector were in Maharashtra, Tamil Nadu and Gujarat during the seven-month period till March this year.
The first set of payroll data was released by the EPFO last month. Some experts had raised doubts over construing job creation from payroll statistics. They said that the data does not reflect true job creation in the country as it also includes job changes employees.
The EPFO has uploaded the data with disclaimers that the data for most recent months are provisional as updation of employees records is a continuous process. The numbers are likely to be updated in subsequent months. The estimates may include temporary employees whose contributions may not be continuous for the entire year, it added.
The EPFO manages social security funds of workers in the organised/semi organised sector in India. It has more than six crore active members.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
